ChemAnalyst

The Styrene Monomer prices in the Asian markets dropped on Thursday due to weaker upstream energy rates and bearish regional buying sentiment. The FOB South Korea prices were assessed at USD 1105 per tonne which showed a drop of USD 10 per tonne from Wednesday’s assessed levels. CFR China Styrene Prices quoted lower at USD 1125 per tonne showing a day on day drop of USD 10 per tonne. Moreover, upstream Benzene prices remained steady at USD 930 as per FOB South Korea levels. The prices are expected to maintain the downward trend as the upstream benzene prices are expected to remain steady for the upcoming week. The regional buying sentiment also appears to be stagnant. This can have a hit on the price levels and the prices are expected to drop by another 5%-10% in the upcoming last week of November. On the supply side the supply is also expected to ease in the month of November as the Zhejiang Petroleum and Chemical has already brought its 600 kilotons per year capacity plant online ...

Styrene monomer prices have gained in Asia on Monday. The price hike was triggered by stronger crude values and stronger gains recorded in Benzene feedstock rates. Apart from the firm crude values and feedstock prices, the availability of the product was also limited in the region which further supported the price hike. FOB Korea Styrene prices were assessed at the USD 1045 per tonne levels which showed a gain of USD 10 per tonne from Friday’s assessed levels. CFR China Styrene prices were assessed higher at USD 1065 per tonne which also showed a rise of USD 10 from the Friday’s assessed levels. Moreover, the upstream Benzene prices on Monday were assessed at USD 880 per tonne which also showed a gain of USD 15 per tonne from the Friday’s assessed prices. with the prices picking up after a falling trend in Asia, the prices are expected to continue to rise by a factor of 5%-10% in the upcoming week owing to limited product availability and higher crude prices supported by higher benzen...